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Pressure Mounts On Pharma To Act On Environmental Targets

17 Jul 2023

• By Ed Silverman

There are growing demands from government officials, investors and employees for the pharmaceutical industry to reduce emissions and waste, and – most of all – make environmental sustainability a core part of its business.

sustainability concept — 53% of biopharma companies have committed to the United Nations Race to Zero, which looks to halve global emissions by 2030 • Source: Shutterstock

To satisfy a growing concern among investors about climate change, Teva Pharmaceuticals two years ago sold $7.5bn in bonds that were tied, in part, to its progress in reducing greenhouse gas emissions across its business. The company then sold another $2.5m in bonds earlier this year that were linked to the same target, among others.

Mindful of the same issue, AstraZeneca signed an agreement in 2020 with My Green Lab, a non-profit focused on sustainability...